A Comparative Study on global Innovation Companies Based on Wide Lens Theory

This study was based on the topic of why countless innovation efforts by companies fail. The purpose of this study is to analyze cooperative innovation cases and present implications for overseas companies that have succeeded in innovation based on Ron Adner's wide lens theory (2012). Through this study, we present insights that companies should think deeply about not only their own innovations, but also joint innovations with innovation ecosystem partners, and make integrated joint efforts. Through the case of overseas companies, it can be confirmed that not only the innovation efforts and development of the company itself, but also the importance of the value chain and innovation partners and the formation of a joint front are important factors. It is presented by dividing it into three areas of wide lens theory. The implications are as follows. First, for a company's own innovation, it is necessary to structure the company culture and organization that are not afraid of failure. Second, to strengthen joint innovation, building positive and cooperative relationships with partner research institutes is of paramount importance, such as Pfizer's vaccine development case. Third, it is necessary to find partnership opportunities and establish strategic convergence that develops in order to strengthen value chain innovation.